BEPACO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BEPACO
Largest movements
- Receivables within one year -€38,434
down €38,434 (-14.8%), from €260,161 to €221,728
of which Trade receivables: -€38,486
- Tangible fixed assets -€18,576
down €18,576 (-15.1%), from €122,921 to €104,346
of which Land and buildings: -€13,730
- Stocks and contracts +€14,844
up €14,844 (+13.2%), from €112,136 to €126,981
of which Stocks: +€14,844
- Accrued charges and deferred income -€19,371
down €19,371 (-53.6%), from €36,120 to €16,749
- Trade debts -€18,668
down €18,668 (-12.7%), from €146,607 to €127,939
- Gross operating margin -€14,928
down €14,928 (-6.5%), from €230,806 to €215,878
- Taxes -€3,430
down €3,430 (-62.6%), from €5,476 to €2,047
- Staff costs +€2,882
up €2,882 (+1.7%), from €171,232 to €174,114
- Financial charges -€2,766
down €2,766 (-28.8%), from €9,611 to €6,846
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €600,546 | €562,699 | -€37,847 | -6.3% |
| Fixed assets | 21/28 | €131,288 | €112,712 | -€18,576 | -14.1% |
| Tangible fixed assets | 22/27 | €122,921 | €104,346 | -€18,576 | -15.1% |
| Land and buildings | 22 | €101,909 | €88,179 | -€13,730 | -13.5% |
| Plant, machinery and equipment | 23 | €8,515 | €6,835 | -€1,679 | -19.7% |
| Furniture and vehicles | 24 | €12,497 | €9,331 | -€3,166 | -25.3% |
| Financial fixed assets | 28 | €8,366 | €8,366 | = | 0.0% |
| Current assets | 29/58 | €469,258 | €449,987 | -€19,271 | -4.1% |
| Stocks and contracts in progress | 3 | €112,136 | €126,981 | +€14,844 | +13.2% |
| Stocks | 30/36 | €112,136 | €126,981 | +€14,844 | +13.2% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €260,161 | €221,728 | -€38,434 | -14.8% |
| Trade receivables | 40 | €66,713 | €28,228 | -€38,486 | -57.7% |
| Other amounts receivable | 41 | €193,448 | €193,500 | +€52 | 0.0% |
| Cash at bank and in hand | 54/58 | €92,536 | €96,801 | +€4,265 | +4.6% |
| Deferred charges and accrued income | 490/1 | €4,425 | €4,478 | +€53 | +1.2% |
| Total equity and liabilities | 10/49 | €600,546 | €562,699 | -€37,847 | -6.3% |
| Equity | 10/15 | €348,293 | €352,570 | +€4,277 | +1.2% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Reserves | 13 | €123,293 | €127,570 | +€4,277 | +3.5% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €115,793 | €120,070 | +€4,277 | +3.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €252,253 | €210,129 | -€42,124 | -16.7% |
| Amounts payable within one year | 42/48 | €216,133 | €193,380 | -€22,753 | -10.5% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €146,607 | €127,939 | -€18,668 | -12.7% |
| Suppliers | 440/4 | €146,607 | €127,939 | -€18,668 | -12.7% |
| Taxes, remuneration and social security | 45 | €34,526 | €31,941 | -€2,585 | -7.5% |
| Taxes | 450/3 | €8,615 | €5,304 | -€3,311 | -38.4% |
| Remuneration and social security | 454/9 | €25,911 | €26,637 | +€726 | +2.8% |
| Other amounts payable | 47/48 | €5,000 | €3,500 | -€1,500 | -30.0% |
| Accrued charges and deferred income | 492/3 | €36,120 | €16,749 | -€19,371 | -53.6% |
| Remuneration, social security and pensions | 62 | €171,232 | €174,114 | +€2,882 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,480 | €19,360 | -€120 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,068 | €0 | -€1,068 | -100.0% |
| Other operating charges | 640/8 | €8,831 | €8,789 | -€42 | -0.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €230,806 | €215,878 | -€14,928 | -6.5% |
| Operating profit (loss) | 9901 | €30,195 | €13,615 | -€16,579 | -54.9% |
| Financial income | 75/76B | €1,049 | €2,054 | +€1,005 | +95.7% |
| Recurring financial income | 75 | €1,049 | €2,054 | +€1,005 | +95.7% |
| Financial charges | 65/66B | €9,611 | €6,846 | -€2,766 | -28.8% |
| Recurring financial charges | 65 | €9,611 | €6,846 | -€2,766 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €21,633 | €8,824 | -€12,809 | -59.2% |
| Income taxes | 67/77 | €5,476 | €2,047 | -€3,430 | -62.6% |
| Profit (loss) for the period | 9904 | €16,156 | €6,777 | -€9,379 | -58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,156 | €6,777 | -€9,379 | -58.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.